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At the age of 23, Lewis Freiberg is an ecosystem engineer at IOTA. His role is equivalent to “technology missionary.” This week he came to Taiwan to receive an interview with the “digital age.” Share with us this tailored for the Internet of Things How to change the future of infrastructure.
The perfect architecture for IoT design: scale, toll free and lightweight
In a nutshell, IOTA is used in the context of the Internet of Things and is mainly divided into payment and data storage.
What is the payment in the Internet of Things? Dominik Schiener, co-founder of IOTA, said in an interview that their goal was to make the machines available for sale in a variety of data, resources and services, all of which could be sold “on-demand”. For example, the number of hours the lamp and WiFi can be used, and the cost of the phone can also be calculated based on the duration of the call.
However, IoT application blockchain technology, the first face is the problem of “scalability (scalibility)”, then IOTA is how to solve it? The key is that its underlying architecture uses a decentralized book-and-book technology that is different from the blockchain – the Tangle.
Freiberg shows that in both Bitcoin and Ethereum, the existing blockchain architecture does not apply to transactions at the IoT level because the more people in the blockchain, the larger the transaction volume, the slower the transaction. Fees are even higher, and as the volume grows to a certain size, the entire blockchain system may still be paralyzed, making it difficult for IoT applications with megabytes of machines to operate on the blockchain.
To address the issue of scale, Ethereum and the Bitcoin community launched the Raiden Network and the Lightning Network, respectively, in a similar concept to using other networks to spread the workload of the original blockchain. However, Freiberg believes that this does not fundamentally solve the problem of the blockchain. It can only be described as “patching up” and the problem of over time will still occur again.
As a result, the IOTA team cut back and created a “chainless,” non-linear de-centralized Tangle that could add trading nodes in any direction, and the more people use Tangle, the faster It is also safer and revolutionizes the way the decentralized books used to operate. “Bitcoin currently trades 3-4 trades per second, Ethereum is about 15 strokes a second, and we can do 38 trades per second, and the speed gets faster as more people use it,” he explains.
In addition, Tangle is also the first decentralized billing system with no fees. The reason is that Tangle, unlike other blockchains, requires miners to validate the transaction, but instead distributes the verification transaction to each trader, verifying the first two trades at each transaction with only a small amount of computation, and therefore Do not need to use additional incentives.
In addition to trading, Tangle can also be used for data storage in IoT devices because its file size is quite small and not only computers, but also mobile and small IoT devices that store and exchange data on Tangle. Freiberg pointed out that compared to the current Ethereum block chain about 140GB of data, Tangle is only 5GB, because of the amount of users has nothing to do, but because Tangle has a mechanism to clear non-essential information in a fixed period of time.
Based on features such as no charge, light weight and scalability, IOTA is particularly suitable for data exchange of the Internet of Things, and also makes it easier to realize the mini payment with low transaction frequency. “We have created an economic model where the number of transactions is small but the transaction amount can be small,” said Freiberg. “I think this is where we create the most important value in the IoT industry.”
However, Freiberg also said frankly that due to Tangle’s design architecture is bigger and safer, so in the current trading volume is not large, you must first use the coordinator (Coordinator) as an intermediary to increase transaction security, Bitcoin and Ethereum just started When there is a similar mechanism.
The future: Alliances with hardware makers to open up the data exchange market
As infrastructure is built, the next step for IOTA will be to align itself with more hardware manufacturers. For example, Flowserve uses IOTA technology to encrypt data on connected cars, including autopilot data, mileage, location, system status, etc. The authenticity of these data helps to make used car trading more secure. On the other hand, Electronic wallet can also be installed inside for automatic payment between vehicles and machines. ElaadNL, the Smart Charging Station, also imports IOTA technology at the charging station for small transactions and recording of charging data. Freiberg said that if Taiwan is optimistic about many excellent hardware manufacturers in Taiwan and Asia, IOTA also hopes to have the opportunity to cooperate in the future.
This week, IOTA also announced that it has formed a “data marketplace” with more than 20 international vendors such as Cisco, Microsoft, Fujitsu, Samsung and Huawei to create an environment in which data can be securely stored and traded. After data from different sensors are stored in a distributed IOTA account, the data is sent synchronously to other nodes in the network to ensure data is not tampered with and can be purchased over the IOTA network.
IOTA seems to offer a complete set of IoT solutions from data storage, micro-payments to machine-to-machine transactions, but as Freiberg puts it, “Technology is better, if not practical, Meaningless. “But just as it took Bitcoin for 10 years to gradually become accepted by the mainstream market, IOTA is still a long way from being practical.